미청구공사와 회계이익의 불투명성

The unclaimed receivable is an account that the contractor reflected in the calculation of the progress rate, but did not claim it because the ordering firms did not recognize it. Normal unclaimed receivable can be recovered in cash after the project is completed. However, the unclaimed receivable that the ordering firms did not recognize until the project was completed is converted into an expense. Daewoo Shipbuilding & Marine Engineering reported large loss by converting unclaimed receivable into expenses in 2015. Accordingly, investors demanded the transparent disclosure of construction contract information. Therefore regulators implemented an improvement plan for raising the accounting transparency of the construction other-taking industry subsequent to the financial year 2016. The improvement plan strictly regulated accounting, strengthened audit and supervision, and expanded disclosure. Therefore, regulators expected improved accounting transparency to enable investors to make reasonable investment decisions. This study verified the effectiveness of improvement plan. Whether there were any significant changes in the effectiveness of unbilled receivable on accounting opacity after implementing the improvement plan was investigated. The results the effect of unbilled receivable on accounting opacity insignificantly after implementing the improvement plan compared to the pre-implementation. In summary, the effectiveness of the improvement plan was not great as expectations.